In a recent study by Aite Group, 73% of bank executives indicated that managing their operations was their greatest challenge, and 31% said that it’s important or extremely important to outsource ATM operations.
Do you agree?
As new technology hits the market and compliance standards continue to evolve, the cost of owning an ATM is on a steady incline. The gradually increasing complexity of the ATM channel has amplified over time and this is not expected to change in the foreseeable future. Due to these factors and many more, the industry is transitioning into a Managed Services – Outsourcing – environment. ATM Outsourcing allows Financial Institutions (FIs) to hand over the reins of their ATM channel to the experts. Managed Services Partners provide scale and focus that a single FI cannot match on its own. They deliver the infrastructure and skills required to maintain an ATM network because ATMs are their core business, not a sideline and necessary nuisance. Owning and managing ATM operations can be stressful, time consuming and expensive for any Financial Institution. Why not eliminate the headache and let an expert take control? NuSource Financial’s “Freedom ATM Program” was designed to eliminate the many challenges of ATM ownership for our customers. We custom tailor the program based on a common sense approach to ATM Outsourcing, allowing us to meet the individual needs of each FI we work with. Our Freedom ATM Program takes care of various operational and service burdens, including hardware maintenance, software upgrades, cash replenishment, supplies and daily operations. While we concentrate on upkeep, uptime, return on investment and delivering continual improvements to the ATM channel, our customers can put their focus back on gaining market share and a competitive advantage.
For today’s ATM consumers, convenience and efficiency are of utmost importance. Although the ATM channel is widely used and highly valued by consumers, it is often neglected or loosely managed. The cost of owning an ATM is on the rise as new technology hits the market and compliance standards continue to evolve. The gradually increasing complexity of the transaction delivery channel has amplified over time and this is not expected to change in the foreseeable future. Due to these factors, and many more, the industry is transitioning into a Managed Services environment in order to eliminate some of the hassle. Managed Services help improve customer interactions, reduce operational and service costs, generate revenue and improve the effectiveness and efficiency of the self-service channel.
Top Five Reasons to Consider Our Managed Services:
Outsourcing to an expert gives you best-in-class service at an affordable monthly fee. While the outsourcing company focuses solely on your ATM fleet, FIs are able to take advantage of collective buying power, which dramatically reduces operating costs.
LESS STRESS ON BACK OFFICE RESOURCES
The way customers interact with Financial Institutions is undergoing a fundamental change. With the proliferation of internet, mobile devices, smartphones, tablets and social media, branch banking is now facing competition like never before. Based on cardholder trends, it is quite likely your financial institution is focusing heavily on developing mobile applications and other online banking tools. With so much money and effort going into these digitally-enhanced strategies, resources to manage ATMs and related concerns, such as EMV, PCI-DSS compliance standards, ADA regulations, Windows 7 migration and software integration, becomes very limited. This is where ATM outsourcing can save you time and money. With the headaches of ATM management and regulation out of sight and mind, your back office staff can focus on developing programs that will allow your institution to attract new customers.
IMPROVED CUSTOMER SERVICE
Providing superior financial services to customers is at the core of every FI’s purpose. Although ATMs play a huge role in customer satisfaction, this service is only a fraction of what your financial institution delivers in quality programs. Managing you ATM operations does not have to be an extra burden for your front line staff. By outsourcing your ATMs, your staff can focus on what really matters – providing the best service possible.
FEWER REGULATORY COMPLIANCE HEADACHES
With ATM fraud in the U.S. costing an estimated $1 billion, and with EMV and PCI deadlines on the horizon, enhanced ATM security and regulatory compliance is more important than ever before. One of the greatest benefits of ATM outsourcing is your institution’s ability to eliminate its responsibility in these areas. Keeping ATMs PCI-DSS compliant is a task many Financial Institutions are having a difficult time tackling. Additionally, new viruses, zero-day malware, targeted attacks, persistent threats and other forms of malicious software are attacking the ATM channel every day. Remove the headaches of fraud and regulatory compliance by outsourcing your ATMs.
ACCESS TO TOP-DRAWER ATM CAPABILITIES
The top ATM outsourcing companies use customized services that improve the daily management of ATMs. These services might include ATM transaction processing and reconciliation; maintenance alerts; vault cash forecasting and management; surcharge-free network access; and state-of-the-art ATM marketing that can expand your brand and increase consumer awareness. When you outsource your ATMs, you gain access to these tools for a fraction of the cost it would take to develop them in-house or purchase them through expensive run-of-the-mill platforms.
Key Benefits of the Freedom ATM Program
- Reduces operational overhead and servicing costs
- Protects against supplementary costs associated with PCI-DSS compliance
- Allows FIs to keep surcharge income
- Improves the effectiveness and efficiency of the self-service channel
- Covers regulatory change requirements
- Reduces work load on branch and central users
- Second Line Maintenance Services
- Software Maintenance Services
- PCI-DSS Patch Management Services
- Terminal Driving
- Vault Cash
- Cash Replenishment Services
- First Line Maintenance Services
- NuView Remote ATM Management Services
- Peace of Mind Regulatory Upgrade Services